| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Good |
| Demographics | 38th | Fair |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6058 Hazelhurst Pl, N Hollywood, CA, 91606, US |
| Region / Metro | N Hollywood |
| Year of Construction | 1973 |
| Units | 114 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
6058 Hazelhurst Pl North Hollywood Multifamily Investment
Neighborhood occupancy remains in the low-to-mid 90s and the renter base is deep, according to WDSuite's CRE market data, supporting durable leasing for this 1973, 114-unit asset in North Hollywood. Elevated local home values sustain renter reliance on apartments rather than ownership.
Neighborhood dynamics and livability
The property sits in an Urban Core neighborhood rated B+, competitive among Los Angeles-Long Beach-Glendale neighborhoods (ranked 495 of 1,441). Amenity access is a strength: restaurants, pharmacies, groceries, and cafes all index well versus national norms, supporting day-to-day convenience and resident retention.
Multifamily conditions in the neighborhood point to steady demand. Neighborhood occupancy is about 94% and has eased slightly over five years, while rents have risen roughly one-third over the same period. The share of housing units that are renter-occupied is high at about two-thirds (67.6%), indicating a broad tenant base and depth for leasing.
Within a 3-mile radius, WDSuite's demographics show households have edged higher even as total population was roughly flat, and projections call for further growth in households over the next five years. That shift implies smaller household sizes and a larger pool of renters, which can support occupancy stability and leasing velocity.
Ownership costs are elevated relative to incomes locally, with home values well above national norms. In practical terms, the high-cost ownership market helps sustain apartment demand and can support pricing power, though management should monitor rent-to-income (around 29%) for potential affordability pressure and renewal risk.
Vintage also matters: built in 1973, the asset is somewhat newer than the neighborhood’s average (1960s era). It should compete well against older stock, but investors should plan for targeted modernization and system updates to maintain positioning and capture value-add upside.
Trade-offs to note: school ratings in the neighborhood track below national averages, and immediate park access is limited. These factors may shape the resident profile and amenity programming but are typically manageable in urban Los Angeles submarkets with strong private and lifestyle offerings.
Safety context
Relative to the Los Angeles metro, the neighborhood’s overall crime rank places it in a stronger position than many peers (ranked 273 out of 1,441, i.e., competitive to top-quintile among metro neighborhoods). Nationally, the area trends safer than average on property incidents and around the midpoint to slightly better on violent incidents.
Recent trends are constructive: both property and violent incident rates show sizable year-over-year improvement, indicating positive momentum. As always, safety can vary block to block; investors should pair this directional view with on-the-ground diligence and standard operational measures.
Proximity to major media and telecom corporate offices underpins local renter demand and commute convenience, including Charter Communications, Radio Disney, Disney, and Live Nation Entertainment. These employment nodes support leasing depth across workforce and creative professionals.
- Charter Communications — telecom & media (2.7 miles)
- Radio Disney — media (3.2 miles)
- Disney — entertainment studios (3.9 miles) — HQ
- Live Nation Entertainment — live entertainment (6.0 miles)
- Live Nation Entertainment — live entertainment (7.4 miles) — HQ
Investment thesis
This 114-unit, 1973 vintage asset benefits from a deep renter pool and healthy neighborhood occupancy near 94% in North Hollywood. Elevated home values in the area reinforce reliance on rental housing, while strong amenity access and proximity to major employers support retention and ongoing demand. Based on commercial real estate analysis from WDSuite, neighborhood rents have advanced over the past five years even as occupancy eased modestly, a setup consistent with durable, needs-based tenancy.
The 1970s construction offers value-add potential via selective modernization to remain competitive versus older stock across the submarket. Looking ahead, a projected increase in households within a 3-mile radius suggests a larger tenant base, which can help support occupancy stability and pricing discipline, balanced against affordability and school-quality considerations.
- Large renter concentration and ~94% neighborhood occupancy support leasing stability
- Elevated ownership costs sustain apartment demand and pricing power
- 1973 vintage offers value-add through targeted unit and systems upgrades
- Household growth within 3 miles expands the prospective tenant base
- Risks: affordability pressure (rent-to-income near 29%), softer school ratings, limited park access